ONE Gas (NYSE:OGS) Announces Earnings Results

ONE Gas (NYSE:OGS) released its quarterly earnings results on Monday. The utilities provider reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.05), Briefing.com reports. ONE Gas had a net margin of 10.83% and a return on equity of 8.04%. The company had revenue of $340.40 million during the quarter, compared to analyst estimates of $287.48 million. During the same quarter last year, the company earned $0.45 EPS. The firm’s quarterly revenue was up 1.4% compared to the same quarter last year. ONE Gas updated its FY24 guidance to $3.85-$3.95 EPS and its FY 2024 guidance to 3.850-3.950 EPS.

ONE Gas Stock Performance

OGS opened at $70.59 on Wednesday. The business’s 50-day simple moving average is $72.12 and its 200 day simple moving average is $67.24. ONE Gas has a 52-week low of $55.50 and a 52-week high of $74.99. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.32 and a current ratio of 0.41. The firm has a market capitalization of $4.00 billion, a PE ratio of 18.38, a PEG ratio of 3.63 and a beta of 0.67.

ONE Gas Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Tuesday, November 19th will be given a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date of this dividend is Tuesday, November 19th. ONE Gas’s dividend payout ratio is currently 68.75%.

Analysts Set New Price Targets

OGS has been the subject of a number of research analyst reports. StockNews.com raised shares of ONE Gas from a “sell” rating to a “hold” rating in a research note on Tuesday. Morgan Stanley increased their price objective on ONE Gas from $63.00 to $69.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Finally, Wells Fargo & Company lifted their target price on ONE Gas from $80.00 to $82.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $68.30.

ONE Gas Company Profile

ONE Gas, Inc, together with its subsidiaries, operates as a regulated natural gas distribution company in the United States. The company provides natural gas distribution services to approximately 2.3 million customers in Oklahoma, Kansas, and Texas. It serves residential, commercial, and transportation customers.